Slide 1: Q2 2025 Financial Results Conference Call
Q2 2025 Financial Results Conference Call Prepared Remarks From: M. Keith Waddell, President and Chief Executive Officer, Robert Half Inc. Michael C. Buckley, Chief Financial Officer, Robert Half Inc. July 23, 2025 1
Slide 2: Second-Quarter 2025 Financial Results Conference Call Prepared Remarks
Second-Quarter 2025 Financial Results Conference Call Prepared Remarks July 23, 2025 Disclaimer The statements made in the conference call speak only as of the date made, and listeners are cautioned that changes in general economic, business or other conditions or in the business condition, financia
Slide 3: Second-quarter 2025 results overview
expenses; and adjusted operating income by combining the gains and losses on investments held to fund the Company’s obligations under employee deferred compensation plans with the changes in the underlying deferred compensation obligations. Since the gains and losses from investments and the changes
Slide 4: Revenues
Now I’ll turn the call over to our CFO, Mike Buckley. Michael C. Buckley, CFO, Robert Half: Revenues Thank you, Keith. Hello, everyone. As Keith noted, global revenues were $1.370 billion in the second quarter. On an adjusted basis, second-quarter talent solutions revenues were down 11 percent year
Slide 5: Gross margin and SG&A costs
Our permanent placement revenues were 13.1 percent of consolidated talent solutions revenues in the current quarter and 13.3 percent in the second quarter of 2024. When combined with contract talent solutions gross margin, overall gross margin for talent solutions was 47.1 percent, compared to 47.4
Slide 6: Tax Rate, Accounts Receivable and Guidance
Tax Rate Our second-quarter tax rate was 33 percent, compared to 29 percent one year ago. The higher tax rate in the current quarter is due to the increased impact of non- deductible expenses relative to lower pre-tax income. Accounts Receivable At the end of the second quarter, accounts receivable
Slide 7: Third-quarter financial assumptions
The major financial assumptions underlying the midpoint of these estimates are as follows: Adjusted Revenue growth, year-over-year: Talent solutions: Down 9% to 13% Protiviti: Flat to Down 4% Overall: Down 6% to 10% Adjusted Gross Margin percentage: Contract talent: 38% to 40% Protiviti: 22% to 24%
Slide 8: Economic and job market outlook
Fears of economic recession have eased as worst-case trade policy concerns have not materialized, and proposed tax changes have now become law. Small business confidence levels have also rebounded modestly from recent lows. The U.S. job market remains resilient with overall unemployment at 4.1%. Lab
Slide 9: Q&A Session
Now, Mike and I would be happy to answer your questions. Please ask just one question and a single follow-up, as needed. If there’s time, we’ll come back to you for additional questions. Q&A Session M. Keith Waddell, President and Chief Executive Officer, Robert Half: That was our last question. Tha